Diamond Hill Capital Management LLC Investment Advisor Invests $55.45 Million in Huntington Ingalls Industries, Inc. $HII

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 198,109 shares of the aerospace company’s stock, valued at approximately $55,449,000.

A number of other large investors have also recently made changes to their positions in the company. Bayban acquired a new position in Huntington Ingalls Industries during the first quarter worth approximately $27,000. NBC Securities Inc. increased its holdings in shares of Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Huntington Ingalls Industries in the 1st quarter valued at $36,000. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries in the 2nd quarter valued at $25,000. Finally, Rakuten Securities Inc. raised its position in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the sale, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher D. Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total value of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at approximately $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HII. Wells Fargo & Company raised their price objective on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Huntington Ingalls Industries in a report on Monday, August 3rd. TD Cowen decreased their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Wall Street Zen lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Citigroup boosted their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.88.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $327.90 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $460.00. The stock has a market cap of $12.92 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.24. The firm’s fifty day simple moving average is $294.87 and its 200-day simple moving average is $352.24.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, beating the consensus estimate of $3.79 by $1.48. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.86 earnings per share. Analysts expect that Huntington Ingalls Industries, Inc. will post 18.19 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 32.90%.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.